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Headline euro area average inflation for 2021 could exceed the 2.2% included in September's Eurosystem staff macroeconomic projections, ECB vice president Luis de Guindos said in an interview published Friday, before falling back to 1.7% in 2022, although wage developments may alter the outlook ahead.

"Inflation this year may turn out even higher than we now think if the supply problems persist. That has consequences not just for the prices of microchips and semiconductors, but also for energy and transport prices, for instance. Also, so far we have seen few wage rises on the back of the higher prices. That may change in the autumn, when many wage negotiations get under way and we will be vigilant on these possible developments."